Upstart (UPST) Set to Announce Quarterly Earnings on Thursday

Upstart (NASDAQ:UPST) will be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Upstart to post earnings of ($0.14) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The firm had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) earnings per share. On average, analysts expect Upstart to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Upstart Price Performance

Shares of Upstart stock opened at $47.24 on Tuesday. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -20.19 and a beta of 1.97. Upstart has a 1 year low of $19.84 and a 1 year high of $57.40. The firm’s 50-day moving average is $43.19 and its 200 day moving average is $32.48.

Analyst Ratings Changes

UPST has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Piper Sandler increased their price objective on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Mizuho boosted their target price on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Wedbush raised shares of Upstart from an “underperform” rating to a “neutral” rating and raised their price target for the company from $10.00 to $45.00 in a report on Monday, October 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.50.

Insider Transactions at Upstart

In other Upstart news, CTO Paul Gu sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $40.01, for a total transaction of $400,100.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares of the company’s stock, valued at approximately $35,794,106.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Natalia Mirgorodskaya sold 1,264 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the sale, the insider now directly owns 24,557 shares in the company, valued at $942,006.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Paul Gu sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.01, for a total transaction of $400,100.00. Following the completion of the transaction, the chief technology officer now directly owns 894,629 shares of the company’s stock, valued at $35,794,106.29. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,959 shares of company stock worth $13,724,175 in the last 90 days. 18.06% of the stock is currently owned by insiders.

Upstart Company Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.